How do you benefit from joining the Entrepreneur Fund?
Unemployment may seem like a remote or even impossible outcome for many entrepreneurs. But it is still worth being prepared. Do you dare work without earnings-related unemployment security?
- Entrepreneurship always involves takings risks. Entrepreneurs too, should sign up for unemployment insurance.
2. To be entitled to earnings-related daily allowance in case your business activity comes to an end, you must be a member of the Entrepreneur Fund.
3. At minimum level (€ 13,247 per year), our membership fee is € 171,28 per month and your corresponding earnings-related unemployment daily allowance is about € 896,21 per month which is € 169,94 higher per month than the amount you would receive from Kela
4. Fund members may be entitled to an earnings-related daily allowance based on 15 months membership and work as an entrepreneur.
5. Persons who have been working as wage-earners and become entrepreneurs can obtain uninterrupted unemployment security, if they resign their wage-earner’s fund membership and join the Entrepreneur Fund within three months counting from the date they started their business activities.
6. As a fund member, in case you become unemployed, you can as a rule receive earnings-related daily allowance and child increase for a maximum of 400 days based on your selected insurance level for a maximum of 400 days, as a rule.
7. Entrepreneurs who have provenly become unemployed are entitled to a reduced membership fee, € 5 per month.
8. While participating in employment promoting services (training, studies etc.), you can receive an increased daily allowance for a maximum of 200 days. During this time, on top of the unemployment allowance, a non-taxable expense compensation amounting to EUR 9 or EUR 18 per workday will be paid. No expense compensation can be paid during independent studies.
9. Earnings-related allowances paid by unemployment funds normally accrue 1,5 % in pension up to the lowest pension age. No pension is being accrued based on basic daily allowances and labour market subsidies paid by Kela.
10. Membership fees are tax-deductible in your personal taxation.